Wills
Executing a Will is one of the most important things that you will do in your lifetime as it determines what happens to what you own when you die and who will be responsible for managing it. Penleys endeavours to present the law surrounding wills in clear and unequivocal language. We also provide our clients with all the relevant options to ensure inheritance occurs correctly.
Inheritance Tax (IHT) can often consume a considerable proportion of a person's inheritance once the "nil rate band" has been exceeded. We can help to plan a client's Will efficiently in order to save on IHT. For example, we can help you to save up to £110 000 on estates of up to £550 000.
It is equally important that a Will is kept up to date because if the law changes or a client's circumstances change a Will may no longer be applicable. Therefore, if any births, marriages, divorces, re-marriages or deaths occur, a client should get in contact with us to make the changes so that all the heirs receive what they are due.
For more information contact Emma Rubython.
Trusts and Lifetime Gifts
Trusts can be set up for a variety of purposes including:
Inheritance tax planning
Looking after long term family interests
Provision of education for children
Safeguarding family assets
John Penley and John Colquhoun are able to apply their experience and expert knowledge in this field of the law to construct a trust tailored to suit any client's needs.
Probate
Emma Rubython, David Billett and the probate team are able to provide clients with a quick and sympathetic service when dealing with assets after bereavement.
The personal service which Penleys provides has the following advantages: No need for personal attendance at the Probate registry
We can trace beneficiaries and assets for the client
We prepare inheritance tax returns
We are able to deal with any income tax affairs to the date of death and for the period of administration
We provide estate accounts (including the provision of tax certificates)
Distribution of assets
We advise on after-death IHT saving by Deeds of Variation
Powers of Attorney We can also offer assistance when dealing with an Enduring Power of Attorney, whereby a donor appoints an attorney through a legal document (EPA) to handle his or her financial affairs. This is a device which works as a safety net when a client is seriously ill or finds him or herself absent from the country for a long period. Living Wills
Similarly we advise on a Living Will, also known as an Advanced Directive, which is a signed and witnessed statement providing instructions to medical staff as to the desired treatment in a time of serious illness. Examples of such instructions include whether or not a client would want:
Breathing assistance
Intravenous medicine
Life support
Resuscitation Considering all the sensitive issues above, Penleys strives to provide a personal and professional experience. Disputed Wills and Family Inheritance Claims
Penleys have an experienced civil litigation team which can combine with our Probate Team to provide assistance if there is a dispute about a Will or whether adequate provision has been made for a family member. You should contact John Penley if you need advice on these matters.
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